Despite a cooling trend across the United States housing market, New York State is bucking the trend, dominating January 2025’s list of fastest-selling property markets. While homes nationally are taking longer than usual to sell, reaching a median of 56 days on the market, several New York metros are moving remarkably.
Rochester is leading the pack, with homes spending just 13 days on the market before being snapped up, making it the quickest-moving market in the country. Buffalo followed closely behind at 16 days. Albany came in at 25 days, and Long Island’s Nassau County also made it into the top 10, showcasing New York’s strong presence in a generally sluggish landscape.
Other fast-moving areas included Allentown, Pennsylvania, where properties sold in a median of 24 days, and Richmond, Virginia, at 27 days. These regions appear to share a common appeal: relatively affordable homes, steady economic conditions, and manageable living costs compared to high-priced coastal cities.
Much of New York’s housing stock in these quicker markets consists of older, often more affordable homes, remnants of post-industrial growth from the 20th century. These properties attract buyers, especially younger households looking for stability in an otherwise unpredictable housing market.
In contrast, once the darling of the pandemic-era property boom, the Sun Belt is seeing homes linger much longer. South Florida metros, in particular, are experiencing a marked slowdown. Fort Lauderdale recorded a median time on the market of 92 days, with Miami close behind at 89. West Palm Beach and Austin, Texas, posted 87 days, while Honolulu wasn’t far off at 84, placing all among the slowest-selling cities nationwide.
One key factor driving New York’s faster pace is a continued shortage of available homes, which keeps competition high and listings moving quickly. Meanwhile, many southern cities are now grappling with the aftermath of rapid expansion during the pandemic, leading to oversupply and longer sale times.
Rising ownership costs in places like Florida also discourage buyers. Property insurance costs, particularly those related to flood and hurricane risk, have increased substantially. With traffic congestion and rising fees associated with living in full-service buildings, demand has cooled in many previously booming areas.
New York, by contrast, offers more predictability in costs and housing types, especially in suburban and post-industrial metros, where single-family homes dominate, and additional service charges are minimal.
The housing market is now clearly split between regions with continued demand and others experiencing a correction. While Texas and much of the South recalibrate after pandemic-era surges, New York’s more stable infrastructure, manageable pricing, and quality of life are helping it retain strong buyer interest, even as the national market slows to levels not seen since early 2020.
